Redwood Trust, Inc. $RWT Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in Redwood Trust, Inc. (NYSE:RWT) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,636 shares of the real estate investment trust’s stock after selling 120,612 shares during the period. Van ECK Associates Corp owned approximately 0.78% of Redwood Trust worth $4,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new stake in Redwood Trust in the second quarter worth approximately $284,000. Corient Private Wealth LP acquired a new position in shares of Redwood Trust during the 2nd quarter valued at $373,000. Bank of America Corp DE acquired a new position in shares of Redwood Trust during the 2nd quarter valued at $2,032,000. Jupiter Topco LLC bought a new stake in shares of Redwood Trust in the 2nd quarter worth $235,000. Finally, Legal & General Group Plc bought a new stake in shares of Redwood Trust in the 2nd quarter worth $1,349,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

Redwood Trust Price Performance

Shares of NYSE:RWT opened at $4.50 on Thursday. The company has a market capitalization of $564.62 million, a PE ratio of -112.35 and a beta of 1.37. The company has a debt-to-equity ratio of 31.69, a quick ratio of 67.49 and a current ratio of 67.49. The stock has a fifty day moving average of $4.77 and a 200-day moving average of $5.32. Redwood Trust, Inc. has a one year low of $4.19 and a one year high of $6.97.

Redwood Trust (NYSE:RWT) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $89.45 million. Redwood Trust had a return on equity of 16.02% and a net margin of 0.42%. As a group, equities analysts anticipate that Redwood Trust, Inc. will post 1.03 EPS for the current fiscal year.

Redwood Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.72 dividend on an annualized basis and a yield of 16.0%. Redwood Trust’s dividend payout ratio (DPR) is currently -1,800.00%.

Wall Street Analysts Forecast Growth

RWT has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Redwood Trust from $6.50 to $6.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. UBS Group cut their price target on shares of Redwood Trust from $7.00 to $6.50 and set a “buy” rating for the company in a report on Friday, August 21st. JonesTrading cut their price target on shares of Redwood Trust from $6.25 to $6.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Wells Fargo & Company reduced their price objective on shares of Redwood Trust from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Piper Sandler lowered their price objective on shares of Redwood Trust from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Redwood Trust has a consensus rating of “Hold” and an average price target of $5.94.

Redwood Trust Profile

Redwood Trust, Inc (NYSE:RWT) is a publicly traded real estate investment trust specializing in the U.S. residential mortgage market. Headquartered in Mill Valley, California, the company focuses on investing in a diversified portfolio of residential mortgage assets, including whole loans, agency and non-agency mortgage-backed securities, and structured credit products.

The company’s core activities encompass the acquisition, financing, and management of prime residential mortgage whole loans and mortgage-backed securities.